Some people on the prowl for good houses for sale in Calgary may be embarking on living independently for the first time. The Calgary Herald’s Mario Toneguzzi reports:
First-time homebuyers have accounted for roughly half of home sales in recent years and continue to be a strong part of the Canadian housing market, according to a new report.
The report from the Altus Group said that on average first-time buyers purchase homes that are below the overall average selling price – about 10 per cent less for purchases between 2009-2013 in Calgary and for Canada on a whole.
Calgary residents wanting to strike out on their own, or people seeking to end a cycle of property rentals, can relate to the Altus Group’s conclusion. There’s nothing not to like about the Stampede City, with a wide job market and higher salary, very welcoming residents, and low incidence of street crime that results in safer night strolls. If you are preparing to take the plunge as a true homeowner within Calgary’s inner city limits, why not trust a skilled realtor® like Ms. Christine Ordze to guide you with the leap?
Discussions with your preferred agent will involve factors such as the state of your income stream, your options on taking out a loan, and which sections of the city have properties that command a higher price than others. Toneguzzi cited the report as saying that Calgary’s average price-to-income ratio was at 3.7 per cent, slightly above the national average of 3.4. Only Vancouver and Toronto were higher at 4.7 and 4.0 respectively, indicating properties that may be well above any first-timer’s price range.
Apartments are seen as alternative pickings in case some problems arise with finding detached homes for sale in Calgary. The Calgary Real Estate Board’s recent sales study shows a 21.28% year-on-year spike in August 2014 MLS apartment sales, at nearly 3,200. The average sale price improved by 8% over the same period to $325,178.
Close coordination is needed to land a new property ahead of everybody else, especially when you’ve completed work on arranging financing. Buying a first home is one sign of developing independence and maturity. Securing it with help of efficient realtors who know their area is a plus.
(Source: First-time buyers fuelling housing market in Calgary, Calgary Herald, 18 August 2014)